ODDO BHF and BBVA expand their strategic partnership
ODDO BHF2 Minutes
Madrid and Paris, 12 July 2021.
Following the announcement of their strategic partnership last October, ODDO BHF and BBVA are launching their partnership in the equity brokerage services business in Spain and Portugal. ODDO BHF Corporates & Markets is opening a subsidiary in Madrid, with a team of 7 employees (5 analysts and 2 sales staff) specialized in the Iberian region, covering around sixty Spanish and Portuguese stocks, and a sales force dedicated to institutional investors in the region.
With this partnership with BBVA, one of the leading Spanish and European banks, ODDO BHF is pursuing its strategy of continental alliances in equity brokerage services with leading banks in their domestic markets: BPCE-Natixis in France since 2018, ABN AMRO in the Benelux since 1 February 2021, and Commerzbank since 11 May.
The consolidation of this new partnership with BBVA brings the total number of stocks covered by the equity platform of the Group and its partners to 600, with the aim of covering 700 stocks by the end of the year.
BBVA's corporate clients will now be able to benefit from the distribution capabilities of a leading European equity brokerage platform and access to more than 700 European and US institutional investors.
Since the beginning of 2021, ODDO BHF Corporates & Markets has distributed more than 40 primary equity transactions (IPOs and capital increases), making it one of the largest European distribution platforms.
Christophe Tadié, Managing Partner of ODDO BHF and Head of Corporates & Markets added: "we are very pleased to consolidate our partnership with one of the largest Spanish and European banks to jointly serve BBVA's corporate clients and bring the best experience in the Spanish and Portuguese market to institutional investors. There are already many synergies among all the partners of our equity platform, Natixis, ABN AMRO, Commerzbank and BBVA. We are certain that we can accelerate this dynamic even more with the incorporation of the Spanish teams."
Enrique Jiménez-Herrera, Global Head of Investment Banking and Finance at BBVA, comments: “BBVA is committed to excellence in the services we provide to our clients and, in particular, to companies that operate in the markets where we are present. This strategic partnership with ODDO BHF will allow us to build up our execution capabilities for Spanish and Portuguese companies in Europe, strengthen our advisory capacity and become a leading bank in 'equity' transactions.”
ODDO BHF is an independent Franco-German financial services group, with a history stretching back over 170 years. It was created from the alliance of a French family-owned business built up by five generations of stockbrokers and a German bank specialising in Mittelstand companies. With 2,500 employees (1,300 in Germany and Switzerland and 1,200 in France and Tunisia), and more than 125 billion euros in assets under management, ODDO BHF operates in three main businesses, based on significant investment in market expertise: private banking, asset management and corporate and investment banking. The Group has a specific ownership structure as 65% of its capital is held by the Oddo family and 25 % by employees. This “partnership” ethos guarantees the long-term involvement of its teams. In 2020, ODDO BHF generated net banking income of 624 million euros, and at 31 December 2020, the Group had over 940 million euros of shareholders' equity. www.oddo-bhf.com
BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America. It is also the leading shareholder in Turkey’s Garanti BBVA and has an important investment, transactional and capital markets banking business in the U.S. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.